GOeureka Review

GOeureka: Next-Gen Solution Shaping the Future of Online Hotel Booking

In 2015, the global travel industry generated US$5,880.4 billion in revenue. By 2020, the global travel industry is forecast to hit US$8,736.1 billion. The hotel sector accounts for 14.1% of total industry revenue (US$716.4 billion in 2015), making it the second largest segment of the travel industry.

When it comes to hotel bookings, OTAs make up nearly 70% of all online bookings3 and their market growth has been at the expense of hotels’ direct bookings. Hotels are losing ownership of their consumers as the OTA stronghold increases. This provides OTAs greater leverage over hotels, placing them in a strong position when negotiating commission rates with hotels.

About Goeureka

GOeureka is a travel technology company that uses blockchain technology to build a hotel booking platform. Our mission is to decentralize the hotel booking sector and provide better transparency by allowing hotels to connect directly with their customers. As a technology partner for hotels, GO aims to provide users with a dynamic digital experience and eradicate the high commission structure imposed by online travel agents. By reducing the hotel's financial commitment to third-party ordering platforms, GO vision is to enable hotels to focus more resources the power to provide intrinsic value and services to tourists around the world.

Problems We Solve

For Consumers

1. LACK OF TRANSPARENCY LEADING TO HIGHER PRICES

Inequitable commissions to OTAs ultimately decrease hotels' margins and increase consumer prices

2. NEGLECTED HOTEL LOYALTY PROGRAMS

Consumers miss out accruing points and subsequently free hotel rewards

3. SEARCH BIAS

The manufactured bias through modified and reordered search results on OTA's ultimately costs consumers choice and value

For Hotels

1. IMPACT ON HOTEL DIRECT BOOKINGS

Online travel agents dominate the sector, driving up to 70% of all online bookings

2. HIGH COMMISSIONS

OTAs charge hotels 15%–30% commissions, impacting hotel margins

3. LACK OF ACCESS

Increasing dominance of OTA's limits hotel's access to consumers

GO Token Economy

GO will provide a 5%–15% savings on all GO Token redemptions on the platform. This provides an incentive for token holders to spend tokens on the GO platform instead of selling them on exchanges as they will not be subject to exchange fees and could potentially earn on the 5%–15% savings.

GO will also reward token holders for spending of tokens in order to create a more engaging environment. Following is one example of how GO can reward token holders for spending:

· If token holders spend X amount on the platform within a two-month period, they will be upgraded to Silver membership status and be entitled to an additional 5% discount on all bookings across the platform.

· If token holders spend Y amount on the platform within a four-month period, they will be upgraded to Gold membership status and be entitled to an additional 10% discount on all bookings across the platform.

· If token holders spend Z amount on the platform within a six-month period, they will be upgraded to Platinum membership status and be entitled to an additional 15% discount on all bookings across the platform.

The Website

Hotels can list their products and services on the GO website where they will have full control of their own listings, rates, policies, and features. This aligns with GO’s objective of being a technological partner for hotels, creating a more transparent framework for all parties involved.

GO will provide the following features on its website: Re-Booking feature that allows customers to obtain the best possible room rates when room prices fluctuate Loyalty program subscriptions where users are encouraged to sign up for the hotel’s own loyalty program Hotel inventory management Feature factory that enables hotels to customize their offerings on the GO platform

With GO’s integration, customers have the option of subscribing to a hotel’s loyalty program directly via the platform. This is beneficial to both hotels and consumers as it provides a mechanism for expanding the customer base and increasing customer retention. Customers are now able to obtain loyalty points directly from the hotel and earn loyalty tokens by using the GO platform.

The website will also feature a hotel inventory management tool to manage inventory, rates, and check-ins. This can work alongside a hotel’s in-house system or become its go-to platform. All data from GO’s inventory management is shared with the hotel’s database once integration is complete so that hotels now have visibility over customers booking with them.

The APP

Hotels and customer accounts are shared between the website and app. Customers can register and download the GO App to enjoy its features.

For the first time, the hotel customer’s journey remains uninterrupted. The GO App ensures that hotel customers are looked after from the time of booking to the duration of their stay right until check out and payment.

GO will facilitate payment in Fiat currency, cryptocurrencies, and tokens. By accepting payment via cryptocurrencies and tokens, hotels are no longer subject to costly merchant fees typically charged by payment gateways and credit card providers.

Consumers may download the GO App and log on with the same user account as the website. All booking information and user account activity will be pulled from GO’s website and shared with the app user account.

The GO App enables customers to track their hotel bookings and manage their current stay. When a booking is due on that day, the customer may check-in to their stay using the GO App. Upon successful check-in, the customer will be able to unlock access to the hotel’s enabled features on hand.

The GO App facilitates greater communication between hotels and their customers throughout their entire stay. Hotels are able to personalize customer experience according to their customers’ needs. Each customer request on the GO App will be sent to the respective hotels. Hotels manage these requests through a Web Content Management System (Web CMS) operated by hotel staff.

Blockchain And Smart Contract

All transactions on the App will operate on GO’s smart contract. The smart contract acts as a communication layer between the platform and the blockchain. All transaction data will be sent to the smart contract to execute its terms, and the transaction will be stored in the blockchain. This removes the need for a middleman and facilitates lower transaction costs throughout the platform.

The GO platform utilizes the widely-used Ethereum blockchain. Ethereum’s smart contracts provide multiple language implementations that will facilitate future integration. An audit of all transactions on the platform will be kept on the blockchain each time the smart contract is executed.

Token Details

GO Token

The GO Token is a digital token or virtual currency designed to facilitate transactions on the GOeureka platform for the purchase of room nights, hotel services and unlocking a range of other benefits and travel rewards.

Token Type : Utility

Standard : ERC20

Token Ticker : GOT

Tokens for sale : 600 million tokens. All unsold tokens will be burnt.

Token price : $0.10

Bonus Distribution : Private sale - 30% | Pre-ICO Phase 1 - 15% | Pre-ICO Phase 2 - 12.5% | ICO Month 1 - 10% | ICO Month 2 - 5%

Hard Cap : USD $60 million

We Accept : ETH, BTC, USD

Restricted Countries : USA, China

Roadmap

Mar 2018 – Aug 2018